How does the e-commerce boom affect your business? – Heads-up from a legal perspective
Recent trends have been emphasising the growing success of e-commerce. With traditional sales transactions increasingly shifting to digital transactions, digital businesses are currently witnessing an unparalleled expansion. The convenience with which customers are converted into sales is appealing for companies embracing the e-commerce trend. The rapid pace of digital business brings exciting opportunities but at the same time imposes important legal considerations.
Noteworthy is the reflection that the legislative trend moves at a far slower pace. E-commerce businesses are advised to bear in mind that the laws governing the subject of e-commerce are likely to change or to be amended over the coming years.
An equally noteworthy consideration is that e-commerce, just as traditional commerce, is governed by consumer protection laws. However, since e-business often involves cross-border transactions, questions regarding the applicable legal framework may arise. E-commerce businesses need to be aware of their legal obligations – often very stringent – when contracting with consumers (B2C).
Whether it revolves around starting digital entrepreneurs or around an existing e-commerce businesses: it is challenging to identify the legal aspects of digital business up front. In a digital world, getting ideas off the ground quickly so that businesses can operate more effectively can be crucial for their success.
To this end EY Law offers integrated law services for e-commerce businesses to succeed in their endeavors. Thanks to our strategic cooperation with EY Tax Consultants and our worldwide network, our digital and commercial law network has a global reach, with integrated services, to always have the right advisors with the right blend of skills to provide timely advice.